WTI Crude crashed to 38.2% Fibonacci support at 5734
|WTI Crude JULY contract
WTI Crude crashed to 38.2% Fibonacci support at 5734. Obviously severely oversold in the short term & the bounce reaches 5829 as I write before first resistance at 5880/90. A high for the day certainly possible but shorts need stops above 5910. A break higher targets 5950/60. Above 5980 allows a further recovery to strong resistance at 6020/30.
Best support at 5735/25 but below 5715 is another sell signal targeting 566050 & 5620/10.
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